Comcast Drops Quest for Fox Assets


In talks with 21st Century Fox, who are considering selling their film and television divisions, there's apparently a deal on the table worth around $60 billion, and an official announcement looks set to arrive this week.

Walt Disney Company, which was in talks to take over the entertainment division of Rupert Murdoch's 21st Century Fox, is closing in on a deal with Comcast dropping out of the race.

The German production company first acquired the rights to the Fantastic Four and the Silver Surfer back in 1986, producing the unreleased low-budget 1994 movie in order to hold onto said rights before forming a partnership with Fox in 1999 which ultimately led to Tim Story's two Fantastic Four movies, and the failed 2015 reboot.

Part of the deal would see Fox Studios' James Murdoch likely offered a senior position at Disney, with a Murdoch trust also getting a small stake in the Disney company.

The assets being sold by Fox include its FX and National Geographic cable channels, 22 regional USA sports networks and the company's stake in the Hulu streaming platform in the US. "We never got the level of engagement needed to make a definitive offer", it added.

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Disney became the sole suitor after Comcast dropped its bid for the majority of Fox assets on Monday.

Fox is apparently interested in pivoting to mostly sports and cultural commentary, meaning Fox News and the sports network FS1 would stay put.

Disney is negotiating to purchase Fox assets that include the film studio and some cable channels, though not the Fox News Channel, Fox Business Network and Fox broadcasting network - home of The Simpsons and Empire.

Twenty-First Century Fox, Inc.